Mortgage Blog

Make your Mortgage Work For You

July 31, 2019 | Posted by: Holly Cochrane

The Holly Cochrane Mortgage Team work with clients to help find the mortgage that best matches their needs. Holly Cochrane explains, “My team can offer you several choices to suit your mortgage and financial goals. PLUS we have the best rates available for you.”

Here we explore some of the most common mortgage options:


You will have to choose between “fixed”, “variable” or “protected (or capped) variable”.

A fixed rate will not change for the term of the mortgage. “This type sometimes carries a slightly higher rate but provides the peace of mind associated with knowing that interest costs will remain the same,” explains Holly.

With a variable rate, the interest rate you pay will fluctuate with the rate of the market.



Amortization refers to the length of time you choose to pay off your mortgage. Usually, the longer the amortization the smaller the monthly payments. 



You have the option of repaying your mortgage every month, twice a month, every 2 weeks or every week. You can also choose to accelerate your payments. This usually means one extra monthly payment per year.



The term of a mortgage is the length of time which options are chosen and agreed upon, such as the interest rate. When the term is up, you have the ability to renegotiate your mortgage at the interest rate of that time and choose the same or different options.



An open mortgage allows you to pay off your mortgage in part or in full at any time without any penalties.


With so many options available to you and so many lenders offering different rates, it is important to choose what will best match your financial goals. “Working with a mortgage professional will ensure that you have all the information and guidance to help you make the right decision for you and your family’s needs,” says Holly.

Contact the Holly Cochrane Mortgage Team on 780-485-7908 to discuss how you can make your mortgage work for you.

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